TurnOnGreen Q2 revenue rises, helped by power electronics business
TOGI•Outlook
The company did not provide specific financial guidance for future quarters or the full year in the press release.
Q2 revenue and loss improve
TurnOnGreen said second-quarter revenue rose 4% year over year, marking its sixth straight quarter of growth. Gross margin expanded to 47% in the quarter, while operating expenses fell 18%. The company said its second-quarter net loss narrowed 47% year over year as operating loss improved sharply.
| Metric | Actual |
|---|---|
| Q2 Revenue | $1.75 mln |
| Q2 Net Loss | $348,000 |
Power electronics business drives growth
The company said its power electronics business drove revenue in the quarter, with power supply revenue up 34% year over year. TurnOnGreen also said margin expansion was supported by higher gross profit and operational improvements, while cost control helped reduce operating expenses and improve operating and net loss.
